You are at XYZ Store and want to buy a replacement oven for your broke one at home. The regular price for the oven you want is $1, 299.99 and is on sale 25% off. The cost for shipping and installing the oven is 199.99 (not part of the sale). After calculating the final price of the purchase there is a sales tax of 9.3%. You plan on financing this purchase with an annual interest rate of 22.5% for two years, based on the Formula for Determining the Monthly Payment of an Installment Loan answer the following:

-What is the total amount that needs to be borrowed.

-What is the total amount charged in Interest alone.

-Find the monthly payments.

-Once paid off how much did you actually pay for the Oven? (That is, what is the total cost of the oven?)

You have an XYZ Credit Card and has a rate of 28.4% and a balance of $2, 300. You are on a friends only vacation and you are having the time of your life! Unfortunately, you decided to look at your email on April 16 at 4am and find out that your boss wants you back in the office ASAP! As you scramble to find a return flight home you see the best option is a flight that costs $392! (Sorry, I know this is stressful.) You charge it to your XYZ Credit Card (on April 16), luckily you have already made the $230 payment on April 15.

-Using the Unpaid Balance Method, what is your credit card bill this month?

-Using the Unpaid Balance Method, compute the finance charge that will appear on the May credit card statement.

-Using the Average Daily Balance Method, compute the finance charge that will appear on the May credit card statement.